Victoria business hit with closures – what you need to know
In a drastic move to limit the spread of COVID-19, Victoria has taken the unprecedented step of mandating a curfew in metropolitan Melbourne, enforcing strict movement limitations and announcing a vast host of business closures. Regional Victoria (under Stage 3 restrictions) will have slightly different…
Stop avoiding these business tasks!
Running a business is time consuming and stressful. I bet you already knew this, eh? In the maelstrom of tasks you need to conquer to keep your business afloat, there will inevitably be those things you miss. Sometimes these seem unimportant, sometimes you simply forget…
How workflow technologies drive new efficiencies in your bookkeeping practice
As an advisor it is imperative you have a high functioning workflow in place to work effectively with your clients. Have you checked in on the health of your workflow systems recently though? In the 2019 Good Bad Ugly Benchmark Report, respondents were asked to…
4 little known home office expenses you can claim
Do you work from home? What are you claiming on your tax? The ATO has announced this year they will be cracking down on ‘stretched’ tax claims such as uniforms, cars and home office expenses. So while you should be sure you are inside the…
A matter of quality – the differences between online legal documents
The Law Society of each State guards the legislative right for lawyers to exclusively practice the law. The uniform legal profession laws of each State expressly prohibit individuals and entities who are not qualified persons from practicing law in the respective States. There are reasons…
STP starts now! What if you aren’t compliant?
STP has been coming at us for some time now and guess what? It has finally landed. Start panicking. You now need to start reporting your payroll information including super to the ATO every pay run – ideally through accounting software like Reckon One or…
How to cope with EOFY without exploding
Busy busy busy. This time of year is a real calorie burner for small business owners. But we all must go through the process of course to remain compliant with the ATO and continue our trade. So how to get through it without exploding into…
How to maximise EOFY tax benefits for small business
Deductions, write downs and general savviness – there are a few solid ways to increase your tax benefits this EOY and squeeze as much juice as you can out of your benefits. 1) The new $30,000 instant asset write off scheme Remember this budget win?…